Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, January 7, 2011

Reigning The Nifty 7th January 2011

 Daily Chart

Half Hourly Chart

Fall continues.The rise from 5982 has been retraced more than 78%  increasing chances of testing 5982.If the Nifty bounces from support at the short term uptrendline from 5721 lows,  then will face strong resistance from the upper trendline of the rising wedge at 6186.All demas 5,10,20,50 are bullishly aligned. Support from the 20 and 50 dema are at 6034 & 5995 respectively. The Previous low at 5982 which should be good support.

Resistance from falling channel of half hourly charts is at 6068-6026.

Other significant supports now at 5992-5933-5878-5850.  Resistance at 6061-6086-6105-6121. 

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Happy Trading !!
Lakshmi Ramachandran

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